No Relief in Sight for High Gas Prices
CBN News
March 5, 2008
CBNNews.com - Don't look to OPEC for relief from high gas prices. The international oil cartel says it will not be boosting production to alleviate the record prices.
The cost of a barrel of oil has passed $104 and continues to climb. Analysts attribute much of the run-up to the falling value of the dollar. OPEC believes there is still enough supply to go around, and the group expects demand for oil to decrease in the next few months. Still President Bush criticized OPEC for its decision.
"I think it's a mistake to have your biggest customers' economies slowing down as a result of higher energy prices," he said.
Bush says America needs to lessen its dependence on foreign oil.
CBN IS HERE FOR YOU!
Are you seeking answers in life? Are you hurting?
Are you facing a difficult situation?
A caring friend will be there to pray with you in your time of need.
